StockNews.com Initiates Coverage on Farmer Bros. (NASDAQ:FARM)

Research analysts at StockNews.com assumed coverage on shares of Farmer Bros. (NASDAQ:FARM) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the stock.

Farmer Bros. Stock Down 6.2 %

NASDAQ FARM opened at $1.97 on Monday. The stock’s 50 day simple moving average is $1.82 and its 200 day simple moving average is $2.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 0.58. Farmer Bros. has a one year low of $1.60 and a one year high of $3.86. The firm has a market cap of $42.06 million, a PE ratio of -4.10 and a beta of 1.78.

Farmer Bros. (NASDAQ:FARM) last announced its earnings results on Thursday, February 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.18. Farmer Bros. had a negative return on equity of 27.18% and a negative net margin of 2.92%. As a group, sell-side analysts forecast that Farmer Bros. will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Farmer Bros.

Institutional investors have recently modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Farmer Bros. by 58.3% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock valued at $38,000 after purchasing an additional 7,000 shares in the last quarter. Geode Capital Management LLC boosted its position in Farmer Bros. by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock valued at $414,000 after buying an additional 11,390 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Farmer Bros. in the 4th quarter valued at $29,000. PFG Investments LLC bought a new stake in shares of Farmer Bros. during the third quarter worth $33,000. Finally, XTX Topco Ltd acquired a new position in shares of Farmer Bros. during the fourth quarter valued at $36,000. 64.48% of the stock is owned by institutional investors.

Farmer Bros. Company Profile

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.